Note: Discovering XRPL (XRP Ledger) thanks to the two-day training provided by XRP-Commons.
The XRP Ledger (XRPL) is an advanced blockchain technology launched in 2012. Designed to address inefficiencies in the traditional financial system, XRPL uses a unique consensus mechanism that does not require mining, making it energy-efficient and extremely fast.
- Consensus: The network uses a consensus protocol that does not rely on Proof of Work, making it less energy-intensive.
- Special Nodes: Protocol amendments are voted on by special nodes, ensuring smooth and secure adaptability of the network.
- Performance: Fast transactions with confirmations in just seconds.
- Eco-Friendliness: No mining required, making XRPL energy-efficient. This system was initially designed to address issues such as long transaction times, high costs, and the excessive number of intermediaries in financial transactions.
It is important to note that despite controversies related to the SEC, our focus here is purely technical.
Transaction Volume: [Include latest available figures] Market Cap Position: [Include latest available figures] Developing on XRPL XRPL is designed with native features such as tokens and various mechanisms that can be extended or modified through amendments.
CLOB (Central Limit Order Book): Allows efficient management of liquidity exchanges. AMM (Automated Market Maker): Facilitates management of low liquidity situations and price discovery. To interact with XRPL, developers use an API that exposes all available functionalities, allowing these functions to be configured according to specific needs.
Tickets and Checks: Allow for deferred payments, similar to checks in the traditional financial system. Memo and Tags: Used to include additional information in transactions. Trustlines: Ensure that transactions occur between two specific parties for precise or limited amounts, with defined tokens. Recent Developments: AMM: Recently introduced to enhance liquidity. Amendments Underway: Voting to integrate DID and the EVM sidechain, promising to broaden the functionalities and utility of the XRPL ecosystem. Integration and Communication with XRPL There are many ways to communicate with XRPL, using various programming languages such as Java, PHP, Go, JavaScript, as well as protocols like HTTP and WebSocket. Several libraries facilitate the integration of XRPL into applications.
Creating a Client: Initializing communication with the network. Connecting to the Network: Establishing an active session with XRPL. Submitting Transactions or Queries: Modifying the ledger state according to desired operations. Disconnecting: Closing the session to free up resources.
https://xrpl.org/docs/ https://xrpl.org/docs/references/ https://xrpl.org/resources/code-samples#